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Safe places (Banks, EMI) to keep legit earned money?

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Aldebaran

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Jul 11, 2020
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Hello everyone,
I have an online business with an Hungary resident Company.
I pay corporate‌ HU tax (9%) and PIT 15% (Personal income Tax) in Hungary.
For someone paying a‍ combine 25% of taxes on hard earned money can be too much but I preferred⁠ the "Safer than sorry approach",
since Hungary it´s not too greedy on taxes I pay⁤ them in full and sleep well at night.

My question so is "where to keep⁣ safe earned money?"

At the moment the assets (7 figures) are split between:
Brick and⁢ mortar bank accounts,
WISE (formerly TransferWise),
Paypal,
Precious Metals
Cash

Since the bank accounts are︀ becoming too fat, and I do not want to open another traditional bank account, where︁ do you suggest to keep them?
What is your opinion??

Thank you
 
US Treasures on Interactive Brokers. If that fails, I don't know what else can collapse‌
 
There are many options for you because all your taxes are paid up.︁
Banks in Switzerland, IOM, Jersey, Guernsey, could all help if you open the account with︂ north of 100K
 
Safest of all . If usa declare bankruptcy , it‍ is like end of modern world.

Do not put all eggs in one basket .⁠ Open as many bank/broker account you are comfortable with.
Swissquote
Saxo bank
Interactive broker.

Brokerage account is safer than bank .
If bank goes out of business , your money⁤ gone. In case of brokerage goes out of business you still have bond ETF or⁣ stock holding .

I asked 100 millionaires how they spend, save, and invest, and they⁢ told me exactly what I expected to hear.
https://www.cnbc.com/amp/2018/02/07/where-the-super-rich-keep-their-money.html
 
BofA weekly flows from couple days ago "Largest flows to cash since Apr'20, smallest to‌ stocks since Dec'20, 3rd largest inflow to TIPs ever"

Inflation fears are real, I‍ don't think there is "safe" anymore ..

I second the suggestions above, broker account at⁠ swissquote or saxobank, diversify your a*s off and pray ..
 
Sorry for asking,
but I am not expert ere,
I tried to open accounts on robinhood and E*TRADE and they both dont open accounts to‍ EU residents.
Can you suggest a couple of reliable online Interactive brokers for EU residents?⁠
TY
 
Banks in Switzerland: Do you know any would open⁠ due COVID an account without going there?
IOM: What is that? I found "International Organization⁤ for Migration"
Guernsey: I found that it is an island, which options there?
Accounts above⁣ 100K is not a problem, any suggestion?
 
Which are the safest online︀ platforms to buy US bonds?
At the moment the eggs are differentiated like this:
-15% Brik and mortar banks
-20% Physical gold an d silver bullions (held in hand)
-10% Gold held by GOLDCORE
-15% Paypal
-15% EMI
-15% Cash Currency ( USD, GBP, EURO,︁ SWiss Francs)
-10% (miscellanous)

There already is a list/topic of the best Brokers for EU︂ residents?

Thank for your time
 
Crypto Wallet is an High‍ risk, speculative investment.
It´s not a safe place where to keep your savings.
It can⁠ worth ZERO tomorrow...
 
That is like saying that all the automobiles in the world‍ are unsafe just because old Soviet automobiles were unsafe. It is a gross overgeneralization. The⁠ key is examining a bank's various leverage ratios.

https://www.newyorkfed.org/medialibrary/media/research/epr/00v06n2/0007estr.pdf
Most large U.S. banks have a ratio of︂ about 8%, which is double the minimum necessary but also too low to absorb a︃ 2008 financial crisis type shock. Many European banks have far lower ratios. But things operate︄ quite differently in Switzerland.

https://swiss-banking-lawyers.com/best-private-bank-list-swiss-private-bank/
https://www.linkedin.com/pulse/why-banks-fail-definitive-guide-solvency-liquidity-ratios-rochford
Just understand that the big banks in Switzerland are︋ almost as bad as the banks in the rest of Europe, so you want to︌ research an individual bank's leverage ratios -- and check on them every few years.
 
To be honest, silver it´s expensive but has not even scratched the‍ top in case of a real crisis.
Look what happened during the the two major⁠ crisis....
 
asset protection is very important. i would not keep cash because of inflation and waste‌ of potential(cash is passive, make it work for you). only for possible forex speculation and‍ for usual expenses of daily life. the safest bet would be government bonds or S&P500.⁠ the bonds suck because they are now not even covering inflation, but they are safe.⁤ still, for value preservation, physical gold cannot be beat. as for asset appreciation, buy the⁣ S&P500 index. you will get, on average, yield of 10% a year and you are⁢ tying your money with the entire economy so i think there is nothing safer because︀ the economy is the people and it will recover if it crashes(for the love of︁ god don't sell when it is down!) so it is guaranteed protection. plus the better︂ it is doing, the higher the yield. you can check out other indices if you︃ want, maybe industrials and do a sector rotation. keep in mind that stocks protect you︄ against inflation as well because companies will simply increase their prices. you can also try︅ real estate but in order to get a yield that is worth the hustle and︆ time, you will have to look at some "exotic" locations. there is a YT channel︇ Save and Invest with Giorgio Loukas, that you might find useful. also keep in mind︈ that liquidity of real estate, or gold, is nowhere near that of equities. either way,︉ never keep cash unless you are waiting for market crash, to get in.
 
buy real property , real bricks and mortar, borrow against it, 60% leverage to stay‌ save and enjoy 15% roi each year.......
 
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